Update from previous idea:
okay, new short term chart to look at, a new fib has been taken to try and look for levels to retrace, I have taken from bottom to top, different to the usual fib retrace because this time we are looking for targets to the upside instead of trying to call the bottom.
Currently, we have flipped the 0.5fib level which is great, I also mentioned the inverse head and shoulders that could be playing out. there is one really big factor concerning me about any move to the upside and that is the CME gap, which is lower than the price currently, (I'll leave a comment under this post of the CME level).
ideally we are just looking to hold this golden pocket, we have seen a wick below already, I am not expecting this fib to be really strong levels of support/ resistance but I do think it's a good guide for us, it is only the 15 min timeframe so it will be volatile here regardless.
so, hold the 0.5 and try flip my favourite box (0.382/0.414) as support, worst case break the 0.5 and test the golden pocket as support, hopefully consolidating here hitting CME and then we can continue upwards.
okay, new short term chart to look at, a new fib has been taken to try and look for levels to retrace, I have taken from bottom to top, different to the usual fib retrace because this time we are looking for targets to the upside instead of trying to call the bottom.
Currently, we have flipped the 0.5fib level which is great, I also mentioned the inverse head and shoulders that could be playing out. there is one really big factor concerning me about any move to the upside and that is the CME gap, which is lower than the price currently, (I'll leave a comment under this post of the CME level).
ideally we are just looking to hold this golden pocket, we have seen a wick below already, I am not expecting this fib to be really strong levels of support/ resistance but I do think it's a good guide for us, it is only the 15 min timeframe so it will be volatile here regardless.
so, hold the 0.5 and try flip my favourite box (0.382/0.414) as support, worst case break the 0.5 and test the golden pocket as support, hopefully consolidating here hitting CME and then we can continue upwards.
